Paul Krugman

Paul Krugman @paulkrugman

The Night of the Long Tables begins — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: Putin’s Ukraine debacle, @paulkrugman says, is a reminder “that the case for an open society, a society that allows dissent… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: Tonight on Twitter Spaces at 8 p.m. ET: @karaswisher and @CaseyNewton will discuss the economic impact of the war in Ukrain… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @stone_lis: Credible Irresponsibility Revisited: @paulkrugman talks about inflation targeting in this post on the Stone Center site, ori… — PolitiTweet.org

Paul Krugman @paulkrugman

Looks as if the market is having some second thoughts too 2/ https://t.co/HNBvqD3SB3 — PolitiTweet.org

Paul Krugman @paulkrugman

Yesterday I wondered why the cutoff of Russian oil was freaking people out as much as it was, given that while important, Russia is nowhere near as crucial as the Persian Gulf in the 70s 1/ https://t.co/LwUpDT7w2w — PolitiTweet.org

Paul Krugman @paulkrugman

Which is reasonable given the Ukraine effect! Expected inflation more than a year out appears to be up only slightly. Don't panic. 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

But it's really important to realize that most of this is coming from a jump in expectations for inflation over the next year, reflected in plunging yields on near-term inflation-protected securities 2/ https://t.co/h9FrnzBS9A — PolitiTweet.org

Paul Krugman @paulkrugman

Seeing a lot of alarm over a jump in bond market expectations of inflation over the next 5 years. Are expectations becoming unanchored? 1/ https://t.co/24zPytFPuN — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: “Events in Ukraine and Russia will, in particular, impose serious costs on the world economy. The question is, how serious?… — PolitiTweet.org

Paul Krugman @paulkrugman

China is a big economy, but it can't be Putin's salvation https://t.co/MWeZJDMJsG — PolitiTweet.org

Paul Krugman @paulkrugman

And the kind of expertise that make a nation strong means drawing on all the talent our society has to offer. If that be wokeness, make the most of it 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

The other day I mentioned how Sherman was able to live off the country while marching across Georgia. But before and after that march his secret weapon was incredibly good logistical capacity — for example, building roads through supposedly impassable swamps at 10 m a day 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

All indications now are that the Russian drive on Kyiv has stalled thanks to lousy vehicle maintenance, lack of trucks, inability to repair damaged roads and bridges, etc. These are things having your soldiers work out in the gym can't fix. 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

Yes, courage and toughness are essential. But they aren't enough without technical competence and deep attention to prosaic things like logistics — which those muscular, shaven-headed Russians Cruz admires seem to lack 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

It's a perfect symbol of the dumbing down that has completely taken over the US right. I mean, it doesn't take deep study of military affairs to understand that modern wars aren't won by swaggering guys with big biceps 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Thinking about the notorious Ted Cruz ad contrasting tough Russian soldiers with the "woke, emasculated" US military 1/ https://t.co/fNgdpA55OE — PolitiTweet.org

Paul Krugman @paulkrugman

It would be ironic if Putin's attempt to reestablish the Russian empire ends up turning Russia into a Chinese vassal state. But that's exactly what will happen if he relies on China to bail him out now 8/ — PolitiTweet.org

Paul Krugman @paulkrugman

The only thing Russia might have had to offset this imbalance was its reputation for having a highly effective military machine. That reputation has already been lost in the Ukrainian mud 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

So if you imagine that China and Russia will somehow form a new authoritarian Axis, Russia would be overwhelmingly the junior partner. In fact, Russia is far less powerful relative to China than Mussolini's Italy was relative to Germany 6/ https://t.co/Mb2sOeAQ9a — PolitiTweet.org

Paul Krugman @paulkrugman

And there's one more point, which I haven't seen people making: the huge imbalance between the national economies. Russia is really tiny compared with China 5/ https://t.co/moMKgfAEa3 — PolitiTweet.org

Paul Krugman @paulkrugman

Furthermore, Chinese banks — which do a lot of business with the rest of the world — will be very reluctant to deal with Russia 4/ https://t.co/0kAAPB4jcn — PolitiTweet.org

Paul Krugman @paulkrugman

As Noah Smith documents, the economies aren't very complementary either 3/ https://t.co/BRd9xsjvKw — PolitiTweet.org

Paul Krugman @paulkrugman

For one thing, while China and Russia are technically neighbors, in economic terms they really aren't. Russia's economy is mostly west of the Urals, China's near the coasts. The population centers of gravity are very far apart 2/ https://t.co/IGXKB0oj0M — PolitiTweet.org

Paul Krugman @paulkrugman

The speed with which Russia has been cut off from the world economy has been as stunning as the slowness with which Russian forces have advanced in Ukraine. But can Putin offset the de facto blockade by dealing with China? That would be harder than many imagine 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

What Putin can learn from Thomas Jefferson's mistakes https://t.co/OeQGyXjmbv — PolitiTweet.org

Paul Krugman @paulkrugman

I don't think it's mainly economics reporters, whom only a tiny fraction of Americans read. More important are the chyrons on cable TV, and editorial choices about what to emphasize; would love to see data on ratio of inflation to employment stories — PolitiTweet.org

Paul Krugman @paulkrugman

This in turn weakens the case for draconian monetary tightening. I still think it's prudent for the Fed to start gradually raising rates, but no case now for shock and awe tightening and reason to consider a pause a few months from now, depending on data 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Wage numbers have been problematic throughout the pandemic, because of compositional effects. So not sure how much weight to put on the apparent slowdown in wage growth. But combined with rising labor force participation, the case for a hugely overheated economy looks weaker 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

I've been watching journalists and some economists twisting themselves into pretzels in an effort to deny the obvious: for whatever reason, people are hearing negative things about the economy and imagine that bad stuff is happening to other people even as they're doing OK 2/ — PolitiTweet.org